Oil Prices Rally as U.S. Targets Iranian Tankers in New Escalation
Oil prices climbed once again in early Asian trade on Wednesday as the U.S. and Iran traded strikes in a significant escalation after a month of relative calm. At the time of writing, WTI had climbed to $91.05 per barrel, trading 0.92% higher on the session, and Brent had risen 1.19% to trade at $9
Source: OilPrice.com
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DW NOTE
The U.S. has spent seven months watching 2,000 ships rot in the Gulf while Iran's mines sit exactly where Tehran left them. The June ceasefire did not reopen the Strait — traffic remains at 3 ships per day against a normal 85 — and now Washington has pivoted to sanctions theater. Oil is up because the blockade never ended, not because enforcement got serious.